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Empire State Realty Shares Up on First Day of Trade

Shares of Empire State Realty Trust Inc, the company that owns the Empire State Building, rose in their first day of trading on Wednesday.

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Shares of the real estate investment trust (REIT) priced Tuesday evening at $13 a share, at the low end of the expected range, and opened only a hair higher at $13.05 on Wednesday. But shares rose as high as $13.40 before easing back to $13.29 on the New York Stock Exchange after 40 minutes of dealings.